Scalper1 News
A flurry of pink slips put Microsoft (MSFT) in the green on Wall Street Thursday as investors signaled their approval of the software giant’s record number of job cuts. Microsoft CEO Satya Nadella said the company will cut as many as 18,000 jobs this year as it looks to digest its acquisition of Nokia’s (NOK) mobile phone unit and make the company leaner overall. It was Microsoft’s biggest employee reduction ever, topping the 5,800 jobs Microsoft cut in 2009. The 2009 cuts represented about 5% of the workforce at the time. This year’s cuts amount to 14% of the company’s 127,000 workers as of June 5. Microsoft rose as much as 3.6% to 45.70, its highest level since the dot-com collapse of March 2000, in the stock market today. But in early afternoon trading Thursday, Microsoft had retreated to just below 45, a gain of 1.9%. Of the total job… Scalper1 News
Scalper1 News